Asian stocks rose on the back of the positive sentiment
|Market movers today
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No major market movers today – the ECB is due to release the minutes from the meeting in September as well as a speech by Benoit Coeure at the IMF meeting.
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Norway. The budget for 2017 is due to be released and we expect fiscal stimulus for 2017.
Selected market news
The bearish sentiment in the fixed income markets continued yesterday on the back of better economic data from the US, which supported the view for a rate hike by the Federal Rerserve this year as well as the story about ECB tapering.
Asian stocks rose on the back of the positive sentiment from the US markets, higher oil prices as well as an improving US economy. The oil price is gradually approaching USD50 as stockpiles in the US declined and fell below 500m barrels for the first time since January. However, if the oil price climbs towards USD55, American shale drillers are expected to come back and to some extent cap the oil price.
Movements in the major currencies have been modest this morning. The yen has gained modestly against the USD after sliding more than 3% the last week. EUR/USD has been rangebound around the 1.12-level.
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